The Nigerian government has passed a new tax law that allows for the traceability of cryptocurrency transactions and their inclusion in the tax declaration system.

BlockBeats News, January 13th, according to TechCabal, the Nigerian government, through a new tax law, will associate crypto transactions with real identities using Tax Identification Numbers (TIN) and National Identity Numbers (NIN), enabling crypto transactions to be traced and integrated into the tax reporting system without compromising the underlying blockchain. Virtual Asset Service Providers (VASPs) are required to collect and report customer TIN/NIN, name, address, and other information, submit monthly transaction reports to the tax authorities as mandated, and report large or suspicious transactions to law enforcement.